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Richmond Company had the following information extracted from its adjusted trial balance for the year 2021: - Sales: $200,000 ; - Sales discount: $4,000; -
Richmond Company had the following information extracted from its adjusted trial balance for the year 2021: - Sales: $200,000 ; - Sales discount: $4,000; - Opening inventory: $10,000; - Purchases: $140,000. A physical count of merchandise on hand at the end of the year shows $20,000. Calculate the gross margin that would appear on the income statement.
Options for Question 35:
None of the above
74 000
70 000
62 000
66 000
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